BB orders uninterrupted ATM, online banking services during Eid holidays
The circular states that to ensure uninterrupted services for customers during the Eid holidays
Bangladesh Bank has issued special instructions to all the scheduled banks, mobile financial services (MFS) providers, payment service providers (PSPs), and payment system operators to keep the country's banking and digital transaction systems operational during the Eid-ul-Adha holiday period.
The directives were issued in a circular from Bangladesh Bank today (21 May).
The circular states that to ensure uninterrupted services for customers during the Eid holidays, transactions must remain active through automated teller machines (ATMs), point-of-sale (POS) terminals, QR codes, internet banking, online e-payment gateways, and mobile financial services (MFS).
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ATM service to remain operational round-the-clock
Bangladesh Bank has directed that all ATM booths must remain operational at all times. Any technical faults must be resolved promptly. Banks have also been instructed to ensure adequate cash supply at booths and maintain round-the-clock security. Where necessary, officials of the respective banks are directed to conduct physical inspections of ATM booths.
Caution on POS and QR code transactions
According to the central bank circular, POS and QR code-based transactions must also remain active at all times. The central bank has further directed institutions to raise awareness among merchants and customers to prevent fraud.
Two-factor authentication mandatory for online transactions
Two-factor authentication (2FA) has been made mandatory to strengthen security for transactions conducted through internet banking and online e-payment gateways. The directive specifically requires this security measure for card-based online transactions of the "card not present" type.
In addition, receiving banks have been instructed to credit funds to customers' accounts immediately upon receiving settlement reports for transactions bearing branch code "85."
MFS agents directed to maintain adequate cash
MFS providers have been instructed to ensure uninterrupted transactions during the Eid holiday and to maintain adequate cash at agent points. Bangladesh Bank has also directed them to make the necessary preparations to handle increased transaction volumes.
SMS alerts and helplines to remain active
The central bank circular states that customers must be notified instantly via SMS alerts for all types of electronic transactions. Institutions have also been instructed to keep round-the-clock helplines operational to ensure that customers do not face any inconvenience.
Additionally, awareness campaigns have been asked to launch through mass media to promote security and prevent fraud in digital transactions.
Bangladesh Bank has stated that all previously issued directives from this department must also be followed accordingly as the central bank has described the matter as "extremely important."
